Joint resolution to extend the authority of the Secretary of Housing and Urban Development with respect to the insurance of loans and mortgages, to extend authorizations under laws relating to housing and urban development.

(LATEST SUMMARY)

Extends for one year the authority of the Secretary of Housing and Urban Development with respect to the insurance of loans and mortgages under the Federal Housing Administration insurance programs. Extends the authorizations pursuant to the following programs relating to housing and urban development: (1) urban renewal, (2) model cities, (3) open-space land, (4) neighborhood facility grants, (5) rehabilitation loans, (6) new community development, and (7) rural housing.

Requires the Secretary to cease the suspension of Federal housing assistance programs or the withholding of funds for the current or any succeeding fiscal year, and to carry out such programs to the full extent possible.

Authorizes the Secretary to make expenditures for correcting serious defects in one- and two-family homes insured for more than 6 months under FHA mortgage insurance programs before the enactment of this Act.

Gives priority in processing applications for housing and community development programs to State and local units of government adversely affected by Department of Defense base closings.